You got money for fake mustaches, huh?

Posted by Arbitrage

Wednesday, August 13, 2008

Ok, fuck the lame. Let me show you what's up. 2 Min YM.

Open the chart up in another window to see it more clearly.

Notice the first red arrow. We have a strong up bar on good volume in small uptrend. I'm now looking for low volume test or a no supply. Notice the next bar after the 1st arrow it's down on less volume ..good sign. The 2nd arrow bar is the key. That is your no supply denoted with the diamond.

So we have good volume on the up bar, next bar down on lower volume, 2nd red arrow bar even LOWER volume. What does this tell us? Well right here, right now there is no supply(no sellers) so we are going up.

We are long at the close of the bar or open of the next bar denoted by the number 1 with the dot. 20 point Take profit with 20 point stop loss. Well we hit our target quick fast and in a hurry without any heat.

Couple minutes later the same damn thing unfolds and again we take the trade. This time however we did have some heat but did not get stopped out and hit our 20 point profit target again.
40 YM points-- *YAWN*